Rally

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<p dir="ltr">Despite a July rally that pushed its price to $0.8 following a favorable U.S. court ruling, XRP experienced a 25% price drop in August. This was largely due to heavy selling pressure on key offshore exchanges, according to&nbsp;<a href="https://marketing.kaiko.com/pepe-plunges-as-founders-sell-1?ecid=AOKeC1b2lBaKBAu7HXxp3jDJulCQ9OVzmG-CPAZo6oRZkuyDL4vW3bkGqNwXHw3d-oNxGl_1vVao&amp;utm_campaign=Research%20newsletter&amp;utm_medium=email&amp;_hsmi=75791733&amp;_hsenc=p2ANqtz-96w6Rib3KKai_S4hepd2mAdKA78A8Dd2aNmlbtQNlY2FN3YzTpudi5AgHRzQ1QFAeEsWD7VNMi_88R48jnBl6VmQFU4Q&amp;utm_content=75791733&amp;utm_source=hs_email" rel="noopener noreferrer nofollow">a new report by Kaiko</a>.</p> 
<h2 dir="ltr" id="volume-soars-gains-stall">Volume soars, gains stall</h2> 
<p dir="ltr"><a href="https://u.today/xrp-and-shiba-inu-shib-steal-spotlight-with-jaw-dropping-mysterious-transfers" rel="noopener noreferrer nofollow">XRP</a> has shown considerable trading activity compared to other altcoins. According to Kaiko, XRP's average trade volume in the past month was $462 million, substantially outpacing some of its nearest competitors, SOL and BNB, which registered $128 million and $121 million respectively. However, the trading volume didn't translate into sustained price gains.&nbsp;</p> 
<h2 dir="ltr" id="u-s-buyers-buck-the-trend">U.S. buyers buck the trend</h2> 
<p dir="ltr">Kaiko's analysis further reveals that buying pressure remained robust on U.S.-based exchange Coinbase.&nbsp;</p> 
<p dir="ltr">The average trade size for XRP on&nbsp;<a href="https://u.today/coinbase-v-sec-crypto-exchange-makes-big-step-toward-victory" rel="noopener noreferrer nofollow">Coinbase</a> exceeded that of all top ten altcoins last month.&nbsp;</p> 
<p dir="ltr">The spike in buying activity could indicate heightened interest from large traders stateside, particularly after&nbsp;<a href="https://u.today/will-ripple-and-sec-settle-xrp-lawyer-weighs-in" rel="noopener noreferrer nofollow">the July court ruling</a> allowed for the resumption of XRP trading.&nbsp;</p> 
<p dir="ltr">Yet, despite this upward pressure, XRP remains only the sixth most traded&nbsp;<a href="https://u.today/binance-ceo-on-reasons-for-altcoin-annihilation-no-one-really-knows" rel="noopener noreferrer nofollow">altcoin</a> in the U.S. in terms of cumulative volume, even as it tops the list in offshore markets.</p> 
<h2 dir="ltr" id="appeal-tension-mounts">Appeal tension mounts</h2> 
<p dir="ltr">Adding to XRP's predicament, the Securities and Exchange Commission (SEC) has recently submitted a request for appeal regarding the token's status.</p> 
<p dir="ltr">As&nbsp;<a href="https://u.today/ripple-files-opposition-to-secs-appeal-request" rel="noopener noreferrer nofollow">reported by U.Today</a>, Ripple is opposing the SEC's request to appeal a judge's ruling that XRP is not a security. In the meantime, the SEC seeks to pause its ongoing lawsuit against Ripple during the appeal process.</p>

Why XRP's Rally Hit a Wall: New Report Names Key Reason

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